Skyrocketing health care costs are one of the main reasons that 60% of Americans are living paycheck to paycheck and find themselves one medical bill or doctor’s visit away from not being able to pay for rent, groceries, or gas.
Patients shouldn’t be in the dark when it comes to how much their health care is going to cost, or left on the hook for staggering amounts of money just to see their doctor, visit a hospital, or simply pick up their prescription. Nearly everyone understands this, which is why 95% of the American people want more price transparency when it comes to their health care costs.
The good news is that the House just passed my Lower Costs, More Transparency Act (H.R. 5378) to help people get access to the right care, at the right time, at a price they can afford. This major bipartisan accomplishment will drive down the cost of care here in Eastern Washington and across the United States by giving patients the ability to know the costs of care up front, instead of after the bill arrives.
Here’s how the Lower Costs, More Transparency Act works:
Increases Price Transparency Throughout the Health Care System for Patients
Empowers patients and employers to shop for health care and make informed health care decisions by providing timely and accurate information about the cost of care, treatment, and services
Makes health care price information public by ensuring hospitals, insurance companies, labs, imaging providers, and ambulatory surgical centers publicly list the prices they charge patients, building upon the Trump administration price transparency rules
Lowers costs for patients and employers by requiring health insurers and pharmacy benefit managers (PBMs) to disclose negotiated drug rebates and discounts, revealing the true costs of prescription drugs
Addresses the Cost of Prescription Drugs
Lowers out-of-pocket costs for seniors who receive medication at a hospital-owned outpatient facility
Expands access to more affordable generic drugs
Equips employer health plans with the drug price information they need to get the best deal possible for their employees
Supports Patients, Health Care Workers, Community Health Centers, and Hospitals
Fully pays for expiring programs that strengthen the health care system by supporting Community Health Centers and training programs for new doctors in communities, as well as preserving Medicaid for hospitals that take care of uninsured and low-income patients.
I’m so proud of the bipartisan work that went into this bill with three committees and both sides of the aisle coming together to deliver results that matter to the American people. This is a game-changer with the potential to completely change the way we think about our health care system, and that’s definitely something to celebrate.
Click here to read the Lower Costs, More Transparency Act.
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